My only point is so many claimed Carmel Valley would hold up. The condos were the weakest link and they suffered greatly. Townhouses soon followed.
Twinhomes are showing signs of depreciation. 12348 Mona Lisa listed for 599k. On that very same street just a few doors away a place sold for 744k in 2005.
And now some SFHs are beginning their descent. Regardless of what you think of the house or location. It is starting to come down in Carmel Valley and of course the less desireable ones will lead the way, but the nicer ones will follow.
